Seeking Alpha

Apple CFO Oppenheimer to retire

  • Peter Oppenheimer will be departing in September and be replaced by Luca Maestri - currently VP of Finance and corporate controller - who will begin easing into the role in June. Oppenheimer has been CFO of Apple (AAPL) for the last decade.
  • Apple seemingly planned for the transition a year ago when it brought on Maestri from the CFO role at Xerox.
  • Oppenheimer: "It is time for me to take time for myself and my family."
  • Shares +0.6% premarket
  • Press release
  • Yesterday: Oppenheimer joins board of Goldman Sachs.
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Comments (8)
  • Quoth the Raven
    , contributor
    Comments (2082) | Send Message
     
    The man that roped in analyst expectations and recalibrated earnings guidance. Vaya con dios, Pete.
    4 Mar, 08:52 AM Reply Like
  • khlim115
    , contributor
    Comments (83) | Send Message
     
    AAPL's gain is Goldman's loss.
    4 Mar, 09:23 AM Reply Like
  • szeducate
    , contributor
    Comments (83) | Send Message
     
    With him gone, maybe, just maybe, we will get someone who is a more aggressive manager of Apple's hoard, but I do not hold out much hope on that front.
    4 Mar, 09:43 AM Reply Like
  • flux8
    , contributor
    Comments (590) | Send Message
     
    I'm fine with their cash hoard. Another $20 billion then suddenly opens up the option of buying Samsung. Not that they would. Just nice to know that they could if they wanted to. Why worry about competition when one can buy them anytime?

     

    Cash is king. No one on Wall Street seems to remember that anymore.
    4 Mar, 12:46 PM Reply Like
  • User66224
    , contributor
    Comments (198) | Send Message
     
    I would be fine with better returns on the money they are investing. But when I think of the infrastructure builds and proactive supply-chain purchases Apple has made and continues to make, I am happier that ample cash is on hand to make it happen.
    4 Mar, 05:06 PM Reply Like
  • kolizacr@yahoo.com
    , contributor
    Comments (217) | Send Message
     
    Old news as he wanted to retire more than 2 years ago.
    4 Mar, 10:38 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11158) | Send Message
     
    This is too bad. He has done splendidly. I wonder if the next CFO can manage expectations as well or defend against those who want to raid Apple's coffers for their own selfish purposes.
    4 Mar, 12:09 PM Reply Like
  • samuel_liu
    , contributor
    Comments (2799) | Send Message
     
    I found this interesting that the San Jose Mercurynews would say this:

     

    I thought Apple had progressed nicely in the international growth, just some difficulties with the Apple Store globalisation stagnated.

     

    http://bit.ly/1hGE5H6
    "We all know that Apple has strong global ambitions. And while that's not to say that Peter wasn't the right guy for that move, Luca has a global view from an operational and financial standpoint,'' he said. "And if they want to be a player in India and China, which are very different markets than the US and Europe where Apple has been successful up to this point, then Luca will help bring this broad and global view."
    4 Mar, 12:56 PM Reply Like
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